Ballard Power Systems Inc (BLDP) Gets a Buy Rating from H.C. Wainwright

By Austin Angelo

According to The Fly, ballard Power Systems Inc (TSX: BLDP), the Conglomerates sector company, was revisited by a Wall Street analyst today. The company received a Buy rating from H.C. Wainwright’s analyst Amit Dayal.

Dayal noted:

“We are lowering our estimate of the company’s 4Q18 revenue to bring it in line with the guidance provided by the company. Our new estimate for 4Q18 revenues is C$22.5M, compared to C$40.7M previously. Our 2018 revenues estimate in now C$90.6M, in line with the company’s guidance of C$90.0-95.0M. We arrive at our price target of C$4.50 per share for the company using a DCF analysis.”

According to TipRanks.com, Dayal has 0 stars on 0-5 star ranking scale with an average return of -9.8% and a 32.0% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Capstone Turbine Corp, and Orion Energy Systems.

The the analyst consensus on Ballard Power Systems Inc is currently a Strong Buy rating.

Based on Ballard Power Systems Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$5.58 million. In comparison, last year the company had a GAAP net loss of C$1.29 million.

Ballard Power Systems, Inc. engages in the design, development, manufacture, sale, and service of fuel cell products. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power. The company was founded on November 12, 2008 and is headquartered in Burnaby, Canada.

The company’s shares closed on Thursday at C$3.90, close to its 52-week low of C$3.44.